Overview
Fund objective
The International Fund aims to outperform (after deduction of costs) the MSCI ACWI ex UK Index, as stated in sterling, over rolling five-year periods.
The manager believes this is an appropriate benchmark given the investment policy of the Fund and the approach taken by the manager when investing. In addition, the manager believes an appropriate performance comparison for this Fund is the Investment Association Global Sector.
There is no guarantee that this objective will be achieved over any time period and actual investment returns may differ from this objective, particularly over shorter time periods.
Investment proposition
Share price and charges
Share class
B, IncPrice
10230.00p% change
0.20%Yield
0.1%Ex-dividend (XD)
NOngoing charges*
0.59%Initial charge
0%Minimum investment
£100,000Minimum top up
£1,000Fund facts
Fund launch date
1 July 1980
Fund size
£717.83m
The Investment Association sector
Global
Comparative Index
MSCI ACWI ex UK Index
Active share
78%**
Annual turnover
37%
Guideline number of holdings
70-120
Current number of holdings
91
Style
Growth
XD Date
Last day of January and July each year
Distribution
Last day of March and September each year
Pricing
Valuation point 10am daily, swinging single price
Fund settlement cycle
Trade date plus two business days (T+2)
**Relative to MSCI ACWI ex UK Index. Source: Baillie Gifford & Co, MSCI.
Meet the managers
Risk Warnings
Risk Introduction
Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Fund include:
Custody
Custody of assets, particularly in emerging markets, involves a risk of loss if a custodian becomes insolvent or breaches duties of care.
Emerging Markets
The Fund invests in emerging markets where difficulties in trading could arise, resulting in a negative impact on the value of your investment.
Foreign Currency
The Fund has exposure to foreign currencies and changes in the rates of exchange will cause the value of any investment, and income from it, to fall as well as rise and you may not get back the amount invested.
Volatility
The Fund's share price can be volatile due to movements in the prices of the underlying holdings and the basis on which the Fund is priced.
Further Information
Further details of the risks associated with investing in the Fund can be found in the Key Investor Information Document or the Prospectus, copies of which are available at bailliegifford.com.
Index disclaimer
Important information
Your location indicates you are based in Jersey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Fund performance
Periodic performance
As at: 30 June 2026
1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | |
|---|---|---|---|---|---|---|
Class B-Acc | -1.0% | 13.9% | 2.5% | 11.7% | 10.4% | 2.7% |
Index* | 0.8% | 14.7% | 13.2% | 28.3% | 18.6% | 12.3% |
Sector Average** | 0.8% | 13.1% | 10.1% | 21.4% | 13.4% | 8.1% |
Sector Ranking | 505/585 | 255/584 | 494/578 | 450/568 | 348/502 | 384/441 |
Figures for 3 and 5 years are shown as the annualised rate of return. This is the average yearly return over the specified period.
Annual discrete performance
As at: 30 June 2026
30/06/2021 – 30/06/2022 | 30/06/2022 – 30/06/2023 | 30/06/2023 – 30/06/2024 | 30/06/2024 – 30/06/2025 | 30/06/2025 – 30/06/2026 | |
|---|---|---|---|---|---|
Class B-Acc | -23.8% | 11.6% | 14.5% | 5.4% | 11.7% |
Index* | -4.2% | 12.0% | 20.9% | 7.5% | 28.3% |
Sector Average** | -8.8% | 10.8% | 14.9% | 4.6% | 21.4% |
Important information
Your location indicates you are based in Jersey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Fund portfolio holdings
The list of top 10 holdings that this fund invests in.
As at: 30 June 2026
| # | Holding | % of total assets |
|---|---|---|
| 1 | TSMC | 5.8% |
| 2 | NVIDIA | 5.4% |
| 3 | Alphabet | 3.8% |
| 4 | Amazon.com | 3.3% |
| 5 | Samsung Electronics | 2.3% |
| 6 | Tencent | 2.0% |
| 7 | Martin Marietta Materials | 1.9% |
| 8 | Mastercard | 1.9% |
| 9 | Microsoft | 1.9% |
| 10 | Meta Platforms | 1.7% |
Sector
As at: 30 June 2026
# | Sector | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | Information Technology | 29.8 | 33.1 | -3.3 |
| 2 | Financials | 13.4 | 15.8 | -2.4 |
| 3 | Consumer Discretionary | 11.8 | 8.9 | 3.0 |
| 4 | Industrials | 11.8 | 11.0 | 0.8 |
| 5 | Communication Services | 10.0 | 8.0 | 2.0 |
| 6 | Health Care | 8.6 | 8.1 | 0.6 |
| 7 | Materials | 5.3 | 3.4 | 1.9 |
| 8 | Energy | 3.5 | 3.3 | 0.2 |
| 9 | Consumer Staples | 3.2 | 4.4 | -1.2 |
| 10 | Real Estate | 1.3 | 1.6 | -0.3 |
| 11 | Cash | 1.2 | 0.0 | 1.2 |
Total | 100.0 | 97.6 |
Top 10 geographical locations
As at: 30 June 2026
# | Top 10 locations | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | United States | 58.9 | 65.6 | -6.7 |
| 2 | Taiwan | 6.6 | 3.4 | 3.2 |
| 3 | Japan | 5.4 | 5.2 | 0.3 |
| 4 | China | 4.3 | 2.4 | 1.9 |
| 5 | Brazil | 3.7 | 0.5 | 3.2 |
| 6 | Ireland | 3.3 | 0.1 | 3.2 |
| 7 | South Korea | 3.2 | 3.0 | 0.2 |
| 8 | Canada | 2.3 | 3.0 | -0.7 |
| 9 | Sweden | 2.0 | 0.8 | 1.3 |
| 10 | Netherlands | 1.7 | 1.4 | 0.3 |
Total | 91.4 | 85.3 |
Region
As at: 30 June 2026
# | Region | Fund % | Index % * | Difference % |
|---|---|---|---|---|
| 1 | North America | 61.2 | 68.6 | -7.4 |
| 2 | Emerging Markets | 20.0 | 12.5 | 7.5 |
| 3 | Europe (ex UK) | 11.4 | 11.5 | -0.1 |
| 4 | Developed Asia Pacific | 6.3 | 7.4 | -1.1 |
| 5 | Cash | 1.2 | 0.0 | 1.2 |
Total | 100.0 | 100.0 |
Quarterly transactions
Transactions for the three-month period ending 30 June 2026
New purchases
- Apple
- Axon Enterprise Inc
- BESI
- Cullen/Frost Bankers
- Lasertec Corp.
- LINDE PLC
- Mediatek
- RBC Bearings Inc
- SK Hynix Inc
- Space Exploration Technologies Corp
- TIDEWATER INC NEW
- WARTSILA
Complete sales
- Edenred
- Enphase Energy Inc
- Kweichow Moutai 'A'
- Nippon Paint
Additions
- Amazon.com
- AutoZone
- Philip Morris
Reductions
- Disco
- Meta Platforms Inc
- Microsoft
- On Semiconductor Corp
- Royalty Pharma
- Ryanair
- Ryanair ADR
- Samsung Electronics
- Service Corp.Intl.
- Space Exploration Technologies Corp
- Texas Instruments
Important information
Your location indicates you are based in Jersey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Insights
Key articles, videos and podcasts relating to the fund:
Filters
Insights
Global Alpha Q2 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.
Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 update
Investment manager Malcolm MacColl reflects on recent performance, portfolio changes and market developments.
Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q4 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.
Amazon: Stock Story
Jon Henry gives three key reasons why tech giant Amazon remains a special investment.
SMC: Stock Story
Sarah Clark explores how SMC powers automation with precision pneumatics with engineering excellence.
Adyen: Stock Story
Beatrice Faleri explores Adyen, the one-platform engine for unified commerce.
Global Alpha Q3 update
Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.
Global Alpha Q3 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Global Alpha Q2 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 update
Investment manager Malcolm MacColl reflects on recent performance, portfolio changes and market developments.Global Alpha Q4 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q4 update
Investment specialist Ben Drury reflects on recent performance, portfolio changes and market developments.Amazon: Stock Story
Jon Henry gives three key reasons why tech giant Amazon remains a special investment.SMC: Stock Story
Sarah Clark explores how SMC powers automation with precision pneumatics with engineering excellence.Adyen: Stock Story
Beatrice Faleri explores Adyen, the one-platform engine for unified commerce.Global Alpha Q3 update
Investment manager Michael Taylor reflects on recent performance, portfolio changes and market developments.Global Alpha Q3 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.Global Alpha Q1 investor letter
The Global Alpha Team reflects on recent performance, portfolio changes and market developments.
Important information
Your location indicates you are based in Jersey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.
Documents
You can access any literature about the Fund here.
To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.
Important information
Your location indicates you are based in Jersey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.